Did the ED Freeze 110 Bank Accounts Linked to a Dubai-Based Narco and Betting Network?
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Synopsis
The Enforcement Directorate's recent crackdown on a narcotics and betting network linked to Dubai-based cryptocurrency wallets raises questions about the scale of illicit operations. With Rs 70 lakh seized and 110 bank accounts frozen, what does this mean for financial crime enforcement in India?
Key Takeaways
- The ED seized Rs 70 lakh and froze 110 mule bank accounts.
- Operations were conducted in Delhi-NCR and Jaipur.
- The actions targeted a narcotics trafficking and online betting network.
- Dubai-based cryptocurrency wallets were used for money transfers.
- The investigation is ongoing to trace beneficiaries and assets.
New Delhi, Nov 16 (NationPress) The Enforcement Directorate (ED) has taken significant action by seizing Rs 70 lakh in cash and freezing 110 mule bank accounts during raids conducted at five sites in the Delhi-NCR region and Jaipur. These operations were part of an investigation into a narcotics trafficking and online betting network that utilized cryptocurrency wallets based in Dubai for money transfers, as confirmed by an official statement on Sunday.
The ED's Delhi Zonal Office executed these search operations under the Prevention of Money Laundering Act (PMLA), 2002, on Friday, according to the official report.
This case is linked to the confiscation of 82.53 kilograms of cocaine by the Narcotics Control Bureau (NCB) in November 2024, which prompted the filing of Complaint No. 36/2024 against various individuals and entities tied to an international drug trafficking syndicate.
As part of an ongoing investigation into the narcotics trafficking and money laundering operation, the ED has seized unaccounted cash of Rs 70 lakh, alongside incriminating documents, digital devices, and financial records, as noted in the ED's statement.
The operations against the drug syndicate further uncovered an online betting and gambling framework run through mobile applications.
The search led to the freezing of 110 mule bank accounts, comprising 73 accounts associated with UPI IDs and digital wallets, which were actively engaged in transactions linked to the betting activities, the statement indicated.
Documents and digital evidence gathered during the raids revealed the use of Dubai-based cryptocurrency wallets for transferring funds.
These operations are part of the ED's ongoing mission to dismantle the financial architecture that supports narcotics cartels and digital laundering networks.
An official from the ED stated that investigations are ongoing to identify the ultimate beneficiaries and discover additional domestic and international assets generated from the Proceeds of Crime.
The federal agency is also collaborating with other enforcement bodies to share information regarding the 110 mule bank accounts, UPI IDs, and digital wallets utilized for betting transactions.
Furthermore, the Dubai-based cryptocurrency wallets have been flagged for investigation by other financial crime detection agencies to ascertain their involvement in similar illicit activities.
Point of View
It is imperative to highlight that the Enforcement Directorate's actions reflect a robust response to the growing challenges posed by narcotics trafficking and cyber-enabled financial crimes. This operation underscores the commitment to upholding the law and protecting the nation from the detrimental effects of such illegal activities.
NationPress
16/11/2025
Frequently Asked Questions
What prompted the ED's action?
The Enforcement Directorate's actions were prompted by an ongoing investigation into a narcotics trafficking and online betting network, which led to the seizure of substantial amounts of cash and the freezing of bank accounts.
What was seized during the ED's operations?
During the operations, the ED seized Rs 70 lakh in cash, along with incriminating documents, digital devices, and financial records.
How many bank accounts were frozen?
A total of 110 mule bank accounts were frozen as part of the ED's actions.
What is the significance of Dubai-based cryptocurrency wallets in this case?
Dubai-based cryptocurrency wallets were used for money transfers in the narcotics trafficking and online betting network, highlighting the global nature of financial crimes.
What is the ED's ongoing investigation focusing on?
The ED's ongoing investigation aims to trace the ultimate beneficiaries of the seized assets and identify additional domestic and foreign assets linked to the Proceeds of Crime.
